The Defence Minister Rajnath Singh chaired the fifth meeting of the IGoM on 11 May 2026 at Kartavya Bhawan‑2, New Delhi, to assess the impact of the escalating West Asia conflict on India’s energy landscape.
Key Developments
- India’s strategic petroleum stocks are adequate: 60 days of crude oil reserves, 60 days of natural gas and 45 days of LPG rolling stock, ensuring uninterrupted supply.
- Foreign exchange reserves stand at a robust $703 billion, allowing the country to meet domestic fuel demand despite global price volatility.
- Petroleum prices have remained stable, while many countries face price hikes of 30‑70 %; oil marketing firms are absorbing losses of about ₹1,000 crore per day and under‑recoveries of nearly ₹2 lakh crore in Q1 2026.
- The government urged citizens to adopt responsible fuel consumption—using public transport, car‑pooling, limiting foreign travel, promoting domestic tourism, and postponing non‑essential gold purchases for a year.
- Prime Minister Narendra Modi’s appeal to farmers includes cutting chemical fertilizer use by 50 %, shifting to natural farming, and expanding solar‑powered irrigation pumps to cut diesel consumption.
- Emphasis on faster expansion of renewable energy, diversification of fuel supplies, and safeguarding maritime trade routes.
- Support to industry and MSMEs through the Emergency Credit Line Guarantee Scheme 5.0 worth ₹2.55 lakh crore.
Important Facts
India’s energy security rests on three pillars: adequate stockpiles, strong foreign exchange reserves, and policy measures that curb demand spikes. Th